UWM Holdings Corporation (NYSE: UWMC) has announced the launch of a private offering of $500 million aggregate principal amount of senior notes due 2030. The notes will be guaranteed on a senior unsecured basis by UWM Holdings' wholly-owned subsidiary, United Wholesale Mortgage, LLC. This offering is expected to help UWM Holdings pay down outstanding amounts on United Wholesale Mortgage's MSR facilities and for general corporate purposes.
United Wholesale Mortgage has been the largest wholesale mortgage lender in the nation by closed loan volume for nine consecutive years and is the largest purchase lender in the nation by closed loan volume. The company originates primarily conforming and government loans across all 50 states and the District of Columbia.
The press release does not constitute an offer to sell any of the notes or the solicitation of an offer to buy any of the notes. The notes have not been registered under the securities act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
The announcement highlights UWM Holdings' commitment to leveraging its position as a leading mortgage lender and its continuous innovation of technology and enhanced client experience.
The company has not provided specific details on how the offering and the guarantee will impact its financials or how they compare to the previous period. The market has reacted to these announcements by moving the company's shares 3.2% to a price of $6.47. For the full picture, make sure to review UWM's 8-K report.
